5 Schemes Focused on Development of Women Entrepreneurs in India
The Indian startup ecosystem is thriving successfully. For the past few years many entrepreneurs have emerged and established their business across the industries with much success, giving tough competition to the existing stalwarts. Not only men, Indian women are progressively moving the bandwagon on entrepreneurship forward. Women have been fraying well in the start-up community, starting, sustaining and succeeding in various businesses ranging from food to clothing, entertainment to event planning, tech to handicrafts. They have been proving their worth in the business sphere.
Keeping in view the enthusiasm and determination of the women entrepreneurs, the government has launched various schemes to support and encourage them. The aim is to motivate more and more women to enter the business sector, have their start-ups and fulfil their dreams. Quick finance, loans and other facilities are provided to women at easy and flexible terms and conditions, so that they can start and sustain their businesses.
Here are five schemes that are offered for the development of women entrepreneurs in India-
- Stree Shakti Package For Women Entrepreneurs
The scheme is offered by the State Bank of India and its branches. Under this loans up to Rs 50 Lakh are sanctioned to women entrepreneurs who have at least 50 per cent share in the ownership of a firm0020vvvv0072 or business and have taken part in the state agencies run Entrepreneurship Development Programmes (EDP). If the loan exceeds Rs 2 Lakh, a 0.50 per cent concession is granted on the rate of interest.
- Annapurna Scheme
Offered by the State bank of Mysore, this scheme is available to women entrepreneurs who have started or plan to start a food catering business. The loan can be utilised for buying various goods required in the business including kitchen equipments. A loan up to Rs 50,000 is sanctioned under the scheme. The loan can be paid back in 36 instalments. The interested charged as per prevailing rates. To secure the loan the candidate needs guarantor and has to offer some asset as collateral.
- Dena Shakti Scheme
The scheme is offered by Dena Bank. Under this, women who plan to start businesses in various sectors including agriculture, manufacturing, micro-credit, retail are provided loans. A loan up to Rs 20 Lakh can be sanctioned under this scheme There is a concession of 0.25 percent on rate of interest. Under the scheme, loans up to Rs 50,000 are offered under the microcredit category.
- Udyogini Scheme
This scheme is offered by Punjab and Sind Bank to the women entrepreneurs involved in Agriculture, retail and small business enterprises to get loans for business at flexible terms and concessional interest rates. The maximum amount of loan under this scheme for women between the age brackets of 18-45 years is Rs 1 Lakh but the candidate’s family income is also taken into consideration and is set at Rs 45,000 per annum for SC/ST women. For widowed, destitute or disabled women from SC/ST categories, a subsidy of 30 per cent of the loan, up to Rs 10,000, is provided.
- Mudra Yojana Scheme for Women
This scheme is offered by the Government of India for women who want to start small new enterprises and businesses including beauty parlours, tailoring units, tuition centres, among others. There are three schemes under it each with different criteria for loan sanction. Firstly, Shishu Scheme, where loan up to Rs 50,000 is sanctioned to women to fund the initial stages of the business. Secondly, Kishor Scheme, here the loan amount ranges from Rs 50,000 to Rs 5 Lakh and is offered to well-established women enterprise. Lastly, Tarun Scheme here loan amount is Rs 10 Lakh and is offered to established business looking for expansion and diversification.
Apart from them, various other schemes for the development of women entrepreneurs are being offered by several organisations in the markets. The main aim of such schemes is to ensure financial support to women entrepreneurs to help establish the business and keep it afloat in later stages.